After starting the day on a negative note, Indian share markets swung between gains and losses as the session progressed, only to end on a flat note.

Benchmark equity indices, BSE Sensex and Nifty50 turned positive in the afternoon session as banking stocks rallied.

However, IT stocks dragged with ITC and TCS leading the losses.

At the closing bell, the BSE Sensex stood lower by 28 points (down 0.04%).

Meanwhile, the NSE Nifty closed down by 12 points (down 0.1%).

Zomato, L&T, and Axis Bank were among the top gainers today.

TCS, HUL, and Sun Pharma on the hand, were among the top losers today.

The GIFT Nifty was trading at 22,953, up by 13 points at the time of writing.

The BSE MidCap index ended 1.3% higher while the BSE SmallCap index advanced 2.4%.

Sectoral indices ended mixed with stocks in the metal sector and realty sector witnessing buying. Meanwhile, stocks from the IT sector and pharma sector witnessing selling.

The rupee is trading at Rs 86.87 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% higher at Rs 86,575 per 10 grams.

Meanwhile, silver prices were trading 0.5% higher at Rs 97,393 per 1 kg.
 

RVNL Shares Jump 14%

In news from the railways sector, Rail Vikas Nigam (RVNL) shares experienced a substantial jump of 14% on Wednesday, 19 February, 2025, after the company received a letter of acceptance from Rail Infrastructure Development Company (Karnataka), indicating a major project win.

Recently, RVNL also reported its Q3 results after market hours, revealing a 13% decline in consolidated net profit to Rs 3.1 bn compared to Rs 3.6 bn in the same period last year. Despite this, the company's revenue experienced a relatively modest decline of 2.6% year-on-year (YoY) to Rs 45.7 bn, down from Rs 46.9 bn in the previous year.

RVNL's Q3 EBITDA stood at Rs 2.3 bn, down from Rs 2.4 bn in the same quarter last year. The EBITDA margin declined to 5.2% from 5.3% in Q3 FY24, indicating a slight compression in profitability.

RVNL's shares have demonstrated a growth of 25% in the past 1 year. In contrast, the Sensex rose by 4.4% during the same period, highlighting RVNL's outperformance in the market.

Why TCS Shares are Falling

Moving on to news from the IT sector, TCS shares hit an 8-month low of Rs 3,780.6 on the NSE, declining 2% in Wednesday's intra-day trade. The stock has fallen 4% over the past three days, marking its lowest level since 20 June, 2024.

In February 2025, TCS has underperformed the broader market, with its share price falling by 8% so far this month.

Tata Consultancy Services (TCS) has witnessed a significant correction in its stock price since 13 January, 2025. This decline comes following the release of the IT major's Q3 results.

TCS' Q3FY25 results showed a revenue of Rs 653.5 bn, marking a 3.5% year-on-year growth. After adjusting for currency fluctuations, the growth rate increased to 4.5% in constant currency terms.
 

Defense Stocks Rally Up to 11%

Moving on to news from the defence sector, Mazagon Dock Shipbuilders staged a remarkable recovery, surging 11% to hit an intraday high of Rs 2,177.5 on the NSE, effectively breaking its three-session losing streak and regaining investor confidence.

Other defence stocks also joined the rally, with Hindustan Aeronautics Ltd (HAL) rising 2.6% to Rs 3,431.9 per share. Paras Defence and Space Technologies advanced 7.4% to Rs 908 per share, while Cochin Shipyard shares surged 9.3% to Rs 1,349.9 per share intraday, marking a significant upward move.

Zen Technologies staged a strong rebound, surging 10% to Rs 1,069.2 on the NSE, after suffering a significant 31% loss in the previous two trading sessions. The stock's sharp decline was triggered by the company's third-quarter results, which showed a sequential drop in revenue and profitability for the period ending December.

Note that defence stocks have been on a tear, with some delivering staggering multibagger returns of up to 400%. This remarkable growth has been fueled by a combination of factors, including government restrictions on defence imports, increased foreign direct investment (FDI) in the sector, and a growing emphasis on defence exports.

The surge in defence stocks is a testament to the sector's potential for growth and the increasing investor interest in this space.

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